Netting Arrangements for Certain Financial Instruments and Securities Financing Activities (Tables)

3 Months Ended

Mar. 31, 2016

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Summary of Maturities by Category of Collateral Pledged for Repurchase Agreements

The following table summarizes the maturities by category of collateral pledged for repurchase agreements:

(Dollars in Millions)	Overnight and Continuous		Less Than 30 Days		Total
March 31, 2016
U.S. Treasury and agencies	$	88	$	–	$	88
Residential agency mortgage-backed securities		867		62		929
Gross amount of recognized liabilities	$	955	$	62	$	1,017
December 31, 2015
U.S. Treasury and agencies	$	122	$	–	$	122
Residential agency mortgage-backed securities		802		168		970
Gross amount of recognized liabilities	$	924	$	168	$	1,092

Information on Company's Accounting Netting Adjustments and Items Not Offset in Consolidated Balance Sheet Assets But Available for Offset in Event of Default

The following tables provide information on the Company’s netting adjustments, and items not offset on the Consolidated Balance Sheet but available for offset in the event of default:

	Gross Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet (a)			Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
(Dollars in Millions)								Financial Instruments (b)			Collateral Received (c)
March 31, 2016
Derivative assets (d)	$	2,485	$	(1,071	)	$	1,414	$	(135	)	$	(3	)	$	1,276
Reverse repurchase agreements		93		–			93		(75	)		(18	)		–
Securities borrowed		749		–			749		–			(730	)		19
Total	$	3,327	$	(1,071	)	$	2,256	$	(210	)	$	(751	)	$	1,295
December 31, 2015
Derivative assets (d)	$	1,879	$	(807	)	$	1,072	$	(82	)	$	–		$	990
Reverse repurchase agreements		106		–			106		(102	)		(4	)		–
Securities borrowed		772		–			772		–			(753	)		19
Total	$	2,757	$	(807	)	$	1,950	$	(184	)	$	(757	)	$	1,009

(a) Includes $212 million and $165 million of cash collateral related payables that were netted against derivative assets at March 31, 2016 and December 31, 2015, respectively.

(b) For derivative assets this includes any derivative liability fair values that could be offset in the event of counterparty default; for reverse repurchase agreements this includes any repurchase agreement payables that could be offset in the event of counterparty default; for securities borrowed this includes any securities loaned payables that could be offset in the event of counterparty default.

(c) Includes the fair value of securities received by the Company from the counterparty. These securities are not included on the Consolidated Balance Sheet unless the counterparty defaults.

(d) Excludes $1.1 billion and $368 million of derivative assets centrally cleared or otherwise not subject to netting arrangements at March 31, 2016 and December 31, 2015, respectively.

Information on Company's Accounting Netting Adjustments and Items Not Offset in Consolidated Balance Sheet Liabilities But Available for Offset in Event of Default

Gross Recognized Liabilities			Gross Amounts Offset on the Consolidated Balance Sheet (a)			Net Amounts Presented on the Consolidated Balance Sheet			Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
		(Dollars in Millions)								Financial Instruments (b)			Collateral Pledged (c)
March 31, 2016
Derivative liabilities (d)	$	2,136		$	(1,652	)	$	484		$	(135	)	$	–		$	349
Repurchase agreements		1,017			–			1,017			(75	)		(942	)		–
Total	$	3,153		$	(1,652	)	$	1,501		$	(210	)	$	(942	)	$	349
December 31, 2015
Derivative liabilities (d)	$	1,809		$	(1,283	)	$	526		$	(82	)	$	–		$	444
Repurchase agreements		1,092			–			1,092			(102	)		(990	)		–
Total	$	2,901		$	(1,283	)	$	1,618		$	(184	)	$	(990	)	$	444

(a) Includes $793 million and $641 million of cash collateral related receivables that were netted against derivative liabilities at March 31, 2016 and December 31, 2015, respectively.

(b) For derivative liabilities this includes any derivative asset fair values that could be offset in the event of counterparty default; for repurchase agreements this includes any reverse repurchase agreement receivables that could be offset in the event of counterparty default; for securities loaned this includes any securities borrowed receivables that could be offset in the event of counterparty default.

(c) Includes the fair value of securities pledged by the Company to the counterparty. These securities are included on the Consolidated Balance Sheet unless the Company defaults.

(d) Excludes $1.5 billion and $576 million of derivative liabilities centrally cleared or otherwise not subject to netting arrangements at March 31, 2016 and December 31, 2015, respectively.